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. trying to come to terms on keeping the government running. they want to get out of town. connell: one of berkshire hathaway's is here with us. dagen: twitter. seven years old today. happy birthday. connell: happy birthday, twitter. we have the money story behind the games and how it is torn apart. those stories and a whole lot more coming up on "markets now." ♪ dagen: it would also be one of the most famous racecar drivers birthdays of all time. it is top of the hour. nicole petallides is on the floor of the new york stock exchange. nicole: i have to tell you, the markets are pulling back. we hit a record all-time high on the dow jones industrials. only to see us pulling back today once again. the dollar remained higher today. the nasdaq remains down .8%. the dow and s&p are down about .5%. yesterday, we saw a broad-based gains. most of the names were higher. today, we are seeing much of the same. it is the other way around. most of the dow components are lower. ibm, hewlett-packard, intel, a lot of the attack names are leading the way to the downside. connell: going to breaking new
of a compromise before the deadline march 27 to avoid having a government shutdown. dagen: rich edson with the latest. rich: a number of different budget pieces coming into play on capitol hill. congress has to pass a spending measure a week from today. if they don't do that, the government shuts down. we can expect perhaps maybe by this evening the senate will do that and send that back over to the house. congress is set to go to congress next week so they have to get this done to avoid the government shutdown. the house has a budget, the senate has one, the fiscal year starts on october 1 to the ideas the house and senate will pass their budget in the next coming weeks and perhaps in the next coming years we could actually have a budget conference. negotiating one entire budget for the federal government was still working on the same old partisan divide. >> we are all concerned about the impact of the budget cuts. they are senseless and they are ridiculous, we should do away with them. >> the plan we're seeing from the democratic leadership is a failed plan for america. it does not
to go. they want a yes or a no. charles: we have already scene when you have these giant governments, these welfare mentalities, it will cost the average person. we saw it in california. the bottom for everyone to understand is when you have these giant governments, it will cost everyone. that is a true story. it has already happened here. stuart: up until now, if you lend money to a government or a bank with a bond issue-- now cyprus is introducing something different. everybody pays for the bailout that is the difference here. that is the switch that cyprus brings to us. we are now out of time. the dow is up 14. it is a state of flux. let me give it to you, dagen and connell. dagen: wing all or some of your money, i think most people would choose some. connell: thank you, stuart. good morning, everybody. i am connell mcshane. dagen: i am dagen mcdowell. how you can profit. that is straightahead. connell: bracing for a retirement crisis. will lose share problem is a share problem. we are talking about lulu lemon. that stock is lower and it is all because of some see through yoga pan
with you with the analogy. thanks so much. >> thank you so much. >> markets in the red as cypress governs pushing the vote on a bailout by another day, and the next guest says it's no agree. this is an isolated incident in a country so small with a very small limited economic output it went have an impact. joining us now is paul, president of heritage capital, and, paul, great to have you on the program. i know you heard phil's report on how the commodities markets react, and, yesterday, it seemed like investors were nervous, then calm, and, perhaps today they are nervous because maybe it's not just an isolated incident. maybe there will be a ripple effect more than anticipated. is it time? can you put it in the rearview mirror? >> we heard from the -- the last couple years, whatever it takes, they save the euro. whatever it takes. they are not going to have to load a revolver to save cypress, if they even want to. i think cypress is a one often. there's a lot of air in the markets. up roughly 10% on the year in equity, so, of course, any possible reason to pull some profits off the table
's employees will be gone. where the red assets are going to the bank of cyprus. the government spending cuts will have to come along with tax increases. this deal still hurts. >> i do not think there is any denying that the cyprus people will have to go through tough times and will suffer the consequences. we had to adjust over relatively a short period of time. rich: now the question is what does this mean for the rest of the euro zone? this, the bailout should be a template for the rest of europe and banks should be reduced. back to you. connell: rich edson lives in cyprus. trading halted in some of those italian banking stocks also added the comments in terms of a template. time to bring in axel merck. your thoughts? >> good morning. when someone screams fire, you do not want to shut the accident. halting stocks, i do not think, is helpful at all. i think it is rather responsible. the question is what will happen. obviously, investors are taking action. connell: you just look at the big board here in the united states and the green at the beginning of the day has now turned red. european
have been really concerned with what's going on, with a government that buys 1.2 billion bullets, hires 16,000 new irs agents, a government that's spent a trillion more than they earn than brought in, it doesn't help. the people in this country who are afraid of losing their rights and liberty, it's scary. stuart: i want debt center stage, and it's not. >> it's not. it should be. it might be likely limited, but it shows there's nothing above political meddling. what used to be taboo is your deposits are safe from taxation. stuart: the time is up, butdagen, connell it's yours. connell: thank you, sir. dagen: if you bail out those depositors, why shouldn't they have to pay something for the bailout? just asking. connell: whole hour to talk about it. connell: good morning, stuart and company told you the bad news from europe is back, and the $13 billion bailout in cypress. they want to pay for it by taxing people's bank accounts. dagen: the president will announce his no , nominee for s secretary. another looks at a man's record over at the justice department. connell: the cyber threats,
america's a government funded. stocks now, it's back down to the floor of the new york stock exchange and nicole petallides. stocks areeoff the lows of the today but still trending down. that's the sentiment day after the fed, isn't it? >> reporter: right, they are, indeed. we are seeing a stronger dollar, the vixx is to the upside, lori and melissa, and you're seeing a market that has had down arrows all day long. yesterday during the middle of the day we hit all-time record intraday highs on the dow jones industrials, today worries remain about europe, in particular mixed economic news here at home, but the eurozone pmi fell to a four month low. germany's manufacturing sector, well, that unexpectedly contracted, so you do have some pressure on the markets. that being said, we're down about 56 points sitting at 14,454. we do have some winners on the tow that are worth noting. take a look at coca-cola, unitedhealth care, walmart and chevron all posting gains, coca-cola up nearly one cent today. melissa: so some positive economic data out today, initial jobless claims coming in at a lo
was fixed. obviously, not. there is the perfect play for gold. when you get a government taking money out of somebody's bank account, you know, in the name of austerity or fixing the bank, that is the perfect reason to go to gold. gold, of course, has been gaining strength in recent weeks on this news, obviously, back over 1600 an annals. we're even -- on amounts, and it's even a bit higher. some say we overplayed it, the markets coming down again. i heard that about greece about 57 times. look at the copper market. this is another interesting market when you look at, you know, the strength of the economy. it's down right now nine cents, a huge move for copper. we're a little bit easier, so it does raise concerns, of course, of how the overall economy's going to do, and that's why the markets are coming down right now on the copper. the industrial matter took a hit. as well as what we see in gold. >> i think, phil, people realize that cypress is a small economy, a small financial system which is why oil is backing up again. >> it is, no doubt about it. they are a small part of the pie, bu
-free and it is not risk-free. there should be a risk premium associated with government debt and if you had a country like cyprus that essentially declared bankruptcy, and renegotiated these debt agreements, that might raise the interest rates of other countries. and that might not be such a bad thing. there would be more money going into private companies and less going into government. >> yeah. >> the other element of this i think is really interesting, there is a big debate whether the e.u. or whether russia will bailout cyprus. melissa: right. >> cyprus, according to recent figures i saw, the russians have about $50 billion invested in cyprus banks. so they have a lot at stake here. even though they seem tt be backing away from any kind of a bailout measure. melissa: no, absolutely. i think that is the larger story that maybe a lot of people are missing that this story has really a lot to do with russia. they have their hooks very deep in cyprus. that is their kay manned island equivalent. >> that's right. melissa: they talk about hey we bail you guys out in exchange for it we get natural gas field? o
business model change, but rates will increase for your customers yet again. the government has created such restriction on the marketplace. it is no longer free market. businesses are finding ways to skirt the laws. they are making full-time employees part-time employees. it does not help the 15 million unemployed. dagen: when president obama said if you like your health insurance, you can keep it. people will be faced with that choice if they work for a small company and they decide to drop coverage. >> that is unfortunately not true, dagen. the fact is that prices should actually go down. insurance companies have a great incentive to actually reduce their rates. there will be more people paying. there will be a very few of us that are not insured. dagen: they cannot charge market rates for people with health conditions. they are limited to what they can charge older people. some people's premiums will go up. younger people, healthier people at small businesses. >> that should not be the case. young healthy people will have a good incentive to get into the market as opposed to paying
. melissa: what is taking so long? >> government and the pension plan. they have been given a chance to go in and see if they can find money in san bernardino that san bernardino can find in their own books because they're in a big fight. san bernardino says we owe $143 billion, $143 million in pension, helpers says you owe $250 million. so they don't even agree on how much everybody is owed. lori: how much of the wage increases and even if the city isn't bankrupt, still has to put a tremendous burden because so many cities are in distress. melissa: is very common in california. it is about, the total budget for san bernardino is $250 million per year. police 64 million, the firefighters 30 some million, just shy of 100 million so it is pretty close to half of the whole entire city budget is police and fire. they get automatic pay raises based on the charter. the city council has had a vote to tear up the charter and they won't do it because the members supported by the unions vote lets keep the charter, they will have to wait for the bank of the judge t make a decision on this and really
, calling the shots with regard to national governments in europe and certainly a threat i think to national sovereignty in europe. ashley: nile, in the last 30 seconds or so, where does this all lead us? we talked before about the eurozone breaking up but is this a watershed moment in some respects because the rules have really been changed? >> i do think it is a watershed moment and it is going to encourage i think a number of european countries to consider exiting the euro all together and i would think that certainly for the greeks, for example, that, what's happened in cyprus will frighten a the are of people there. it is going to lead to many greeks calling for an exit from the euro all together. i think if the greeks go, then certainly others could well follow suit. so i do think this send all the wrong signals actually across europe and it will fundamentally undermined confidence in the banking system in many european countries. ashley: we're out of time. thank you so much, nile gardiner with the heritage foundation as always, thanks very much for joining us. >> thank you. tracy: sca
Search Results 0 to 11 of about 12

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